Retail and CPG
Retailers and CPGs have long had “big data”, since before it was called that. Kognitio has been working with well-known brands in this space for many years. With new, external data sources that enable further expansions to product forecasting and predictive modeling, the ability for these firms to gain competitive advantage from data is greater than ever before.
The Kognitio difference
Sampling and small models are no longer satisfactory for behavioral analysis of customers across a wide multi-channel retail environment. Most markets in our ‘long tail’ world have become a conglomeration of many niches. Kognitio enables full-volume analysis on granular detail Point-of-Sales (PoS) data to avail brand and segment managers with the most flexibility in their analysis of customer behavior and segmentation.
Detailed Market Basket Analysis
As major brands and retail chains build out store segmentation and demand planning models, basket analysis is at the core of their analysis. The in-memory analytical platform enables not only near-real-time performance, but also enables true ad-hoc analytics by business users that can leverage self-serve platforms to drive detailed analysis without employing IT.
Product Forecasting – The MPP in-memory code execution(SM) available in Kognitio enables any algorithm to scale-out across many nodes in an analytical platform cluster. This means that complex mathematical functions and models written in any programming language – like R, Python, Perl, or even SAS™ can be accelerated from hours to minutes, enabling more iterations and greater relevancy for merchandising managers and statisticians alike.
Analytical Acceleration of Reporting
Analytical Acceleration of Reporting – most organizations employ standard BI reporting tools and deliver reports to Store Managers, Brand Managers, and Product Management Teams. In a Big Data environment, conventional systems can’t cope with the volume data—often tens of thousands of SKUs—that organizations have on hand. This means that the report those managers need to support their decisions can be available hours or days later than is useful. Kognitio inter-operates with existing BI Tools and Data Storage layers (data warehouses, databases) to accelerate reporting by 10-100x.
Store segmentation and demand planning
As retail organizations work in multi-channel environment, marketing to individual and regional customer tastes have become a science. The MDX Extension to Kognitio enables it to act as a virtual cube to perform like an OLAP Tool for Business Analysts. No longer constrained by aggregation issues, they can work in granular detail to wove products within segments or stores within regions in any direction and enable true “drill anywhere” capability via their favorite applications or visualization/reporting tools.
Other areas where the Kognitio Analytical Platform has been employed in retail and CPG organizations include Supply chain management, Merchandising analytics and Operational analytics.